Millions of reasons to pass Clean Energy Jobs

Sep 03, 2017

Clean Energy Jobs policy would raise hundreds of millions per year for investment in Oregon

New estimates show Oregon’s share of proceeds from a cap and price on climate pollution would be hundreds of millions of dollars per year by the time the program begins in 2021. The estimate is based on HB 2135, currently under consideration by the House, which would allow our state to link up with the existing North American Carbon Market featuring California, Quebec and Ontario (2018).

“It’s hundreds of millions a year to be invested to benefit communities across our state, create good-paying jobs, and save people money on energy. Proceeds will go to making clean energy, like solar, more affordable and improving energy efficiency in homes and businesses, building affordable housing near transit, and investing in more transportation options,” said Tera Hurst, Executive Director of Renew Oregon. “This estimate doesn’t take into account private investments that we’ve seen in other places, which typically provide up to a 3 to 1 match.”

The bill is designed to target investments in Oregon to economically distressed and climate-impacted communities first -- like rural, low-income and communities of color.

“The $700 million figure is fairly easy to estimate, taking emissions data from Oregon’s Department of Environmental Quality and the base price of allowances on the North American market,” said Sean Penrith, Executive Director of The Climate Trust. “The bill directs the funds to be spent on projects with emissions reductions and also co-benefits for business and communities.”

Meanwhile, 10 other U.S. states already participate in pollution pricing programs. Those jurisdictions are celebrating economic growth and reduced emissions.

The Port of Los Angeles is launching the world’s first shipping terminal to generate all of its energy needs from renewable resources, improving the air quality and local economy of nearby Wilmington, one of the state’s most disadvantaged communities.

In agriculture, grants to farmers for more energy and water-efficient irrigation technology will not only cut GHG emissions but save billions of gallons of water.

750 low-income families in the San Joaquin Valley have received rebates up to $9,500 to replace older, inefficient vehicles with hybrid or electric vehicles.

An 82-unit affordable housing development in Los Angeles’ MacArthur Park neighborhood will provide affordable housing and improved access to public transit for a key neighborhood hub near downtown Los Angeles.

Projects funded to date are expected to reduce greenhouse gas emissions by more than 15 million metric tons of carbon dioxide equivalent (CO2e), roughly the equivalent of taking three million cars off the road for a year.